Columbia Pictures hasoptioned exclusive rights to develop and produce Hot Wheels, an action-romance based on Mattel's populartoy cars range with McG of Charlie's Angels fame lined up to direct. While story details aresketchy McG gave some clues in a statement released today (Jan 30). 'Wewant to create a timeless story that will work for everyone - a charismaticyoung hero, great stakes and jeopardy, and a fantastic love story,' hesaid.

The live-action picture willbe produced by John Baldecchi, who produced The Mexican, and Jason Hoffs. Theproject will be co-produced by McG's Wonderland Productions, which has athree-year first-look deal with Columbia. McG recently completed principalphotography on Charlie's Angels: Full Throttle, starring Cameron Diaz, Drew Barrymore and Lucy Liu.The sequel is due to be released in the US on Jun 27.